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Argus Mars

Argus Mars is the pivotal Americas medium sour benchmark and is the most actively traded sour crude market in the Americas. Argus Mars is widely used in hedging, term contracts, mark to market and in pricing spot deals.

Mars is a significant component in the Argus Sour Crude Index (ASCITM) price, a volume-weighted average of deals for three US deepwater sour crudes. The ASCI benchmark is the reference price for all term sales of Saudi, Kuwaiti and Iraqi crude into the US. The total volume of trade linked to the ASCI price regularly exceeds 2mn b/d. Learn more about the ASCI benchmark.

The expanding significance of Mars has led to a rapidly growing paper market settled against the Argus Mars price index and listed on CME.

The Argus Mars price represents spot trade in the US Gulf medium sour crude blend arriving on the Mars pipeline at dedicated storage caverns at Clovelly, Louisiana. Argus Mars is a volume-weighted average of all spot Mars deals throughout the trading day on a differential basis to WTI at Cushing. Argus also publishes Mars prices down the forward curve, aligned to the Nymex settlement.  

For full details of specifications and information on Argus Mars, please see the Argus Americas Crude methodology

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 Learn more about the Argus Americas Crude methodology
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Argus US Crude Prices ExplainedWhite Paper LLS - The Emergence of a Secondary Benchmark
White Paper New Argus LLS and Mars Swaps Contracts
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